RTTNews | Apr 27, 2021 07:47AM EDT

07:47 Tuesday, April 27, 2021 (RTTNews.com) - Lincoln Electric Holdings, Inc. (LECO) reported Tuesday that net income for the first quarter increased to $74.17 million or $1.23 per share from $55.56 million or $0.91 per share in the prior-year quarter.

Excluding items, adjusted net income for the quarter was $82.78 million or $1.37 per share, compared to $60.91 million or $1.00 per share in the year-ago quarter.

On average, ten analysts polled by Thomson Reuters expected the company to report earnings of $1.18 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter increased 7.8 percent to $757.02 million from $701.99 million in the same quarter last year. Organic sales grew 6.4 percent. Analysts expected revenues of $725.27 million.

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